The Corporate Affairs Commission (CAC) has issued a strong warning to Point-of-Sale (PoS) agents across Nigeria, announcing a nationwide enforcement exercise targeting operators who have failed to register their businesses.
The CAC revealed this in a statement posted on its Instagram page on Saturday, noting a growing trend of PoS operators conducting business without proper registration. The commission described the situation as a direct violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
This is not the first time the CAC has threatened a clampdown; a similar warning was issued in 2024, but operators resisted the move.
In its latest announcement, the commission criticised some fintech firms for onboarding unregistered PoS agents, calling the practice reckless and a threat to Nigeria’s financial stability. It warned that unregulated PoS activity endangers millions of Nigerians, especially small business owners and rural residents, exposing them to fraud and financial risks.
The CAC declared that starting January 1, 2026, no PoS operator will be allowed to function without full CAC registration.
According to the statement:
Unregistered PoS terminals will be seized or shut down.
Security agencies will enforce compliance nationwide.
Fintech companies enabling illegal operations will be placed on a watchlist and reported to the CBN.
All operators must regularise their businesses immediately.
The renewed enforcement comes amid rising concerns about criminal activities linked to PoS operations. Lawmakers have recently warned about issues including cloned terminals, anonymous transactions, unprofiled agents, and weak KYC practices—all of which pose serious financial and security threats to Nigerians.
